The Central Bank of Russia, led by Elvira Nabiullina, continues strict regulation of cryptocurrencies, highlighting the risks and volatility associated with these assets.
Statement by Elvira Nabiullina
At the "Central Bank of Russia Finance Congress" in St. Petersburg, the governor of the Central Bank, Elvira Nabiullina, stated that she does not plan to include Bitcoin and other cryptocurrencies as reserve assets.
Cryptocurrencies as Risky Assets
Nabiullina emphasized that the volatility and risks associated with cryptocurrencies do not allow the Central Bank to consider them as investment assets. "As a central bank, we absolutely do not consider investing in them. Cryptocurrencies are quite volatile and risky."
Restrictions on Cryptocurrency Use
The Central Bank of Russia continues to oppose the use of cryptocurrencies for domestic payments, allowing their use only for qualified investors and in foreign economic activity. "We say 'yes' for foreign economic activity and qualified investors, especially as an investment target."
Thus, Russia maintains a strict stance on cryptocurrencies, emphasizing their risks and limiting their use solely for investment purposes.
